The National Association of Home Builders releases the quarterly Home Opportunity Index which indicates that of all the homes that were sold between January – March 2010, more than 72% of these homes can be afforded by those who are at the national median income.

The survey has only had one higher reading ever in all the years that the survey has been conducted.

When it comes to home affordability you will have to look at the figures on a city to city basis.

If you’re looking outside Cincinnati OH homes for sale take the figures for Bay City, Michigan, you will see that 98.7% of all homes sold could have been afforded by those earning the median income for the area. This was in the first quarter of 2010. In case of Indianapolis, the figure was a whopping 95%.

The top quarterly ranking has been held by Indianapolis for almost 5 years now, which is no small feat.

The bottom of the ranks is brought up by New York-White Plains, NY-Wayne, NJ region. Here home rates were so high that only 20.9% of homes could be afforded by families that had the median income for this area.

If you want to check out rankings for any of the 225 metro areas in the US, you can get the data at the NAHB website. It goes without saying that at this point in time, home affordability is one of the highest ever. It is likely that the situation may change fast as home prices and mortgage rates seem to be going up at a rapid pace.

This is one of the best times to buy a house if you look at home prices as well as interest rates on mortgages. So don’t postpone your plans to buy a flat in case you are looking to buy one.

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